New Optimism Over XM-Sirius Merger?
That's what the Wall Street Journal is suggesting today after reporting (subscription required) that an XM Satellite Radio director "made the largest insider purchase ever at the company amid optimism that legal rulings in favor of another merger could help clear the path for XM's proposed combination with Sirius Satellite Radio Inc.
"XM director Jeffrey Zients, who has served on the company's board since May 2006, reported Friday buying more than $3 million of the company's shares -- the largest reported purchase by an XM insider since the company went public in 1999."
Whole Foods buyout of Wild Oats, over the objections of the Federal Trade Commission, is viewed by many to be a bellweather for the XM-Sirius merger.
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